Turkey hits US with retaliatory tariffs


Ankara, Jun 21 (IANS): Turkey on Thursday became the latest country to hit back at the US for its tariffs on steel and aluminium.

Turkey's Ministry of Economy said that it was imposing tariffs worth $267 million on US goods, targeting items like coal, paper, walnuts, tobacco, rice, whiskey and cars after negotiations with Washington failed to yield meaningful progress, CNN reported.

"Turkey is committed to active, robust and reciprocal trade relations with the US -- but with the understanding that fairness cannot be one-sided," Economy Minister Nihat Zeybekci said in a statement. "We cannot and will not allow Turkey to be wrongly blamed for America's economic challenges."

The US enacted 25 per cent tariffs on imported steel and 10 per cent tariffs on imported aluminium in March. Exemptions were initially given to the EU, Canada and Mexico, but the Trump administration let them lapse at the beginning of the month.

Turkey didn't receive an exemption.

Later, the EU, Canada and Mexico announced retaliatory tariffs against the US. China imposed tariffs on $3 billion of US products in early April in response to the steel and aluminium measures.

Turkey is the world's eighth largest steel exporter, according to a report prepared in March by the Department of Commerce. The US was Turkey's top market for steel in 2017.

  

Top Stories


Leave a Comment

Title: Turkey hits US with retaliatory tariffs



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.